Microsoft Misses Revenue Mark, Shares Fall

(Reuters) - Microsoft Corp posted a steeper-than-expected 17 percent drop in quarterly revenue and said its business continued to be hurt by the weak global PC and server markets, sending its shares down 8 percent.

The world's largest software maker, whose operating systems power the vast majority of the world's personal computers, reported fiscal fourth quarter net profit of $3.045 billion, or 34 cents per share, compared with $4.297 billion, or 46 cents per share, in the year-ago quarter.

Profit excluding items was 38 cents per share for the quarter ended June 30, beating analysts' average forecast of 36 cents per share according to Reuters Estimates.

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